Northeast India’s Only English And Hindi Satellite News Channel
                       

Assam govt takes over HPCL’s Nagaon & Cachar paper mills

The Assam government yesterday took over the assets of the Hindustan Paper Corporation Limited (HPCL) of Jagiroad and the Cachar Paper Mills at Panchgram. The Assam Industrial Development Corporation (AIDC)

The Assam government yesterday took over the assets of the Hindustan Paper Corporation Limited (HPCL) of Jagiroad and the Cachar Paper Mills at Panchgram.

The Assam Industrial Development Corporation (AIDC) was declared as the successful bidder and has taken over the assets of the Nagaon and Cachar paper mills.

AIDC MD Adil Khan and Moloy Ranjan authorised person of official liquidator Kuldeep Verma, signed an MoU in the presence of Assam industries minister Chandramohan Patowary and Principal Secretary Dr KK Dwivedi at the Nagaon Paper Mills.

Also Read: Assam CM confident of BJP’s victory in state’s 2 seats 

In the meantime, a team of AIDC officials also took over the assets of the Cachar Paper Mill as well.

An agreement was signed between the representatives of officers and supervisors’ associations and workers unions of the HPCL and the Assam government.

The relief package of Rs 700 crores was accorded approval in the cabinet meeting held on September 30 last year.

The Assam government paid the amount of Rs 375 crores and will be distributed by the liquidator as per the norms of the Insolvency and Bankruptcy Code.

The remaining amount of Rs 700 crores will be utilised in clearing the dues of employees and workers of HPC.

Meanwhile, Cabinet Minister Chandramohan Patowary thanked Chief Minister Dr. Himanta Biswa Sarma and expressed gratitude to all the stakeholders that after a long time, a perplexing issue has been finally resolved.

Watch:

First Published: 29th March, 2022 12:54 IST

COMMENTS

WE RECOMMEND

Banner
Mukul Sangma denounces Piecemeal approach towards Assam Meghalaya border issue

While the Assam Meghalaya governments are set to reach an agreement on 6 out of 12 areas of dispute between the two states soon, the opposition in the hill state is not happy about things. At a time when Chief Minister Conrad Sangma has informed that the agreement on 6 areas of dispute will be […]

15th March 2022
Banner
Bangladeshi infiltrator arrested in Assam

One illegal Bangladeshi infiltrator was arrested at Silchar in Assam. The Bangladeshi migrant identified as Nikhil Das had forged documents for inclusion of name in the National Register of Citizens. The matter came to light while verification of legacy data. The Bangladeshi infiltrator had bribed Rs. 8,000 to a lawyer for acquiring documents necessary for […]

21st May 2018
Banner
Internal dissension within Dibrugarh Congress ahead of Assam Panchayat elections

Internal dissensions within the Congress party over candidates in the upcoming Assam Panchayat elections is out in the open with the Dibrugarh District Congress Committee expelling 11 of its party workers including Vice-President Nagen Borthakur from primary membership of the party for six years. The step was initiated as a disciplinary action against the workers […]

29th November 2018
Banner
Assam Assembly Elections: 281 candidates file nomination for first phase

Altogether 281 candidates have filed their nominations for 47 assembly seats in Assam going to polls in the first phase on March 27, a release issued by the CEO’s office said on Wednesday. The last date of submission of nominations for the first phase was Tuesday. Among prominent candidates who filed nominations were Chief Minister […]

10th March 2021
Banner
3 Guwahati COVID-19 patients have no travel history: Himanta Biswa Sarma

Assam Health Minister Himanta Biswa Sarma on Friday, addressing a press conference informed that the three positive COVID-19 patients in Guwahati have no travel history. Sarma has urged the citizens to remain alert. He appealed the people to immediately rush to the hospital if anyone is suffering from cough, fever and diarrhea. A post graduate […]

08th May 2020